Real estate tourism for second homes has gained an impulse in the Dominican Republic in the last three years, according to the directors of the Association of Real Estate Companies.

The president of the Association of Real Estate Companies (AEI) in the Dominican Republic, Emil Montás, said that a new market niche for first homes has developed in Santo Domingo, as foreigners with high purchasing power have come to live in the country because of the major investments that have been made in the metropolitan region in the last two years.  These statements were made as he participated as a guest at the Economic Encounter organized by HOY newspaper, together with the former president, Raysa Jiminián.  

Mr. Montás indicated that the developers of tourism projects for second homes have begun to place their inventories, and as they have fallen they are starting to consider building new projects. He said that one of the areas showing the greatest dynamism is at Punta Cana, where sales have been rising and prices have fallen.

He attributed this increase in activity to the building of the Coral Highway, cutting travel time from Santo Domingo to Punta Cana to one hour and 45 minutes.

In addition, he said that first home projects were being developed in that tourist center for local and foreign buyers choosing to work or reside permanently in the region. 

In conclusion, he indicated that dynamism in the sector was explained by the fact that after the real estate crisis that affected the United States, property prices have declined to reflect the reality of the market.